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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/29924

    Title: 水平併購危機處理模式研究
    Other Titles: The horizontal of M & A process model of crisis management
    Authors: 盧瑞徵;Lu, Jui-cheng
    Contributors: 淡江大學全球華商經營管理數位學習碩士在職專班
    蔡信夫;Tsai, Hsin-fu
    Keywords: 併購;水平併購;危機處理;風險;M &A;Horizontal M & A;crisis management;risk
    Date: 2009
    Issue Date: 2010-01-10 23:04:53 (UTC+8)
    Abstract: 企業的本質在於獲利.而每一人從離開學校進入社會,就開始一連串的於社會叢林中求生存的活動,但有些人可以於此競賽中,獲得最高的報酬,他們是如何成功,如何面對失敗?也惟有深刻認知與了解此水平併購活動,才能為吾輩於此商業活動中,能先立於不敗之地,進而能獲得更高更好的商業報酬,依此動機,本文將研究下列主題:


    於文獻探討章節,不僅僅是去發掘過往文獻,於此類似題目中所得到的研究結果,於本研究中,採用了三類文獻,分別是“企業併購相關文獻”,“企業危機相關文獻”及如何使企業基業長青(Build to last).也從會計觀點,法律觀點,專利價值及勞工觀點,看到一些新增可能失敗因素及因應策略.而成功的企業家,就是越能從別人所忽略之企業價值,從而進行完善的企業併購佈局.





    To make profit is the basic demand for an Enterprise. Each person has to learn some skill to survive in social jungle since leaving school, but in the end only a few of people can win the highest reward in the long-term race. How they can be successful, how to face failure where they encountered great difficulties during their working time? Through a profound understanding of the horizontal’s M & A activities (Merger and Acquisition), it helps us to stand on an invincible position in this kind of games, and then get a higher feedback than others business. By this motivation, this article will examine the following topics:

    Through the procession of studying the subject, it needs to dig out the purpose in this paper by the following four questions.

    1. The successful entrepreneur how to evaluate the possible risk before M & A process.
    2. How entrepreneurs could successfully deal with an unexpected crisis during the procession of M & A?
    3. To prove whether the failure experience is the mother of the next success of mergers and acquisitions when the chance comes out again.
    4. To study how an entrepreneur to successfully integrate the different cultures among companies in mergers and acquisitions.

    In the literature review section, it is not only to explore the past literature where there has been a similar topic in the research, but also to find out the useful theory to match my study findings. In my paper, I adopted three types of literature, namely the "M & A literature," "corporate crisis literature" and “how to Build an Evergreen Enterprise”. From the accounting, legal, patent and labor points of view, it was discovered some failure factors and solution strategy. A successful entrepreneur can obtain more values from others who neglected the enterprise value, and thus he can expand his business map by a fully skilled planning before the mergers and acquisitions.

    After the research, found that the domestic enterprises and foreign enterprises are consistent at the motives of M & A, but when the mergers and acquisitions happened there exist a significantly different attitude to identify the value of the combined company. In the face of the crisis generated by mergers and acquisitions, the domestic and foreign companies have a consistent agreement that is honesty is the best policy to face all crises. If crisis happened, entrepreneurs can accurately determine the impact, the scope, the depth, and the size of the crisis at the beginning, it will much help to resolve the crisis. In the process of M & A integration of organizations, for all enterprises of respondents are agreed that the experience of past failures which would be a great helpful power for the next M & A process to avoid making the same mistake, On the final stage in the acquisition, integration process of different companies, there are existing quite different styles between the oriental and the West.

    In this study, in-depth interviews with six companies’ chiefs, the respondents provided a lot of valuable first hand practical experiences, which are quite worthful information, and these are echoed by the following objectives:

    A.The successful entrepreneur how to evaluate the possible risk before M & A process.
    1. First, they should assess whether their employees can accept the new concept - mergers and acquisitions.
    2. In advance to check or mine all related information/data from the target company is very important.
    3. All procedures should abide by the legal legitimacy.

    B.How entrepreneurs could successfully deal with an unexpected crisis during the procession of M & A.
    1. To face the crisis honestly can be the best policy to save the parent company, and don’t care too much of personal diginity at this stage. Be sure to take decisive action to stop bleeding is the most and first matter that could have the opportunity to make a comeback in the future.
    2. In order to set up an ad hoc group for M & A task, it is necessary to assemble special staff from each department, and the CEO is of course the team leader.
    3. As the crisis emerging out, to estimate the problem’s scope and assess the damage’s size and depth would be at the first time. The shorter and the sooner is the better.

    C.Whether the failure of M & A is to be proved it is a cornerstone of success for the next mergers and acquisitions.
    1. It has been proved that the failure is the mother of success.

    D.To understand the practical operations how to integrate different cultures in mergers and acquisitions
    1. To respect the local culture.
    2. To let overseas company’s staff to identify the parent company’s culture.

    We also found that some past literature, such as from a financial and many other subjects have a number of clues for legal loopholes for further application on the M & A activity which will help to provide a positive and negative direction of thinking in the future.
    Appears in Collections:[全球華商經營管理數位學習碩士在職專班] 學位論文

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